Velesto Energy wins Vietnam drilling project

The contract is expected to contribute positively to the group’s rig utilisation and financial performance of 2026 and 2027.

PETALING JAYA: Velesto Energy Bhd has been awarded a drilling contract by Phu Quoc Petroleum Operating Company in Vietnam.

Under the contract, the oil and gas firm said its Naga 4 jack-up rig will undertake drilling activities for more than 40 wells.